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s37
Level 1

2022 was my first time having an HSA. the total contributions are 8300. I am 55. Turbo tax says the whole 8300 is excess subject to 6% penalty. That seems wrong.

 
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1 Reply
MarilynG1
Expert Alumni

2022 was my first time having an HSA. the total contributions are 8300. I am 55. Turbo tax says the whole 8300 is excess subject to 6% penalty. That seems wrong.

If your HSA contribution shows on your W-2 (Box 12, Code W), don't enter the amount again when you go through the HSA section in TurboTax.  The program picks your contribution up from your W-2 entry, so if you enter it again, the amount gets doubled.

 

This is probably why you're showing an Excess Contribution of $8300.   You are correct that you are allowed to contribute $8300 to your HSA at age 55. 

 

Here's more detailed info on HSA's.

 

 

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